My fiance and I intend to remortgage our apartment in Bradford with Yorkshire BS. We have a son 18 who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is repossessed. I have a couple of questions (1) Is this document specific to the Yorkshire BS conveyancing panel as he did not need to sign this form when we purchased 3 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Yorkshire BS. This is solely used to protect Yorkshire BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Yorkshire BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Having sold my house in Bradford last October yet the purchaser is Skype messaging every few hours to moan that her lawyer needs to hear from mylawyer. What should my lawyer have done following completion?
After completion of your house sale your lawyer is committed to deliver the transfer documentation and all additional paperwork to the purchaser's solicitors. Depending on the transaction, your conveyancer must also evidence that the mortgage has been repaid to the purchasers lawyers. There is unlikely to be post completion procedures specific conveyancing in Bradford.
We are planning to purchase with Melton Mowbray Building Society. I visited a couple of local practices but cant to find a Bradford conveyancing firm on the Melton Mowbray Building Society panel. Could you assist?
You should make use of the search tool on this site. Pick the lender and type Bradford or your preferred area and you will see a number of lawyer based in Bradford or by proximity to you.
I am buying a new build house in Bradford benefiting from help to buy. The builders refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about the side-deal as it will put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Bradford is where the house is located. What do you suggest?
Flying freeholds in Bradford are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bradford you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bradford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I work for a busy estate agency in Bradford where we have witnessed a number of leasehold sales jeopardised as a result of short leases. I have received contradictory information from local Bradford conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a 1st floor flat in Bradford, conveyancing was carried out November 2003. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Bradford with a long lease are worth £197,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2079
With just 54 years remaining on your lease we estimate the premium for your lease extension to range between £32,300 and £37,400 as well as legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.